Hoov,

I understand your point completely. What I don't understand is the reason for Noront to hold back. Clearly they are frustrating their JV partner. I might add that the Noront board is fully aware of the situation with Seafield. Yet they are not complying with the wishes of their JV partner.

My questions are as follows:

1. Does Noront need Seafield as a JV partner?
2. Are their clauses in the contract we are not aware of?
3. Is the new NOT board saving money by cutting back on non-critical work?
4. Is NOT suffering from backlogs?

A while back I mentioned that Richard may have taken on too many joint ventures as a small exploration company. I mentioned the joint ventures can take up a lot of resources to administer properly. Is Seafield a case where Noront has overextended it's ability to properly administer JV partnerships? The optics on this don't look good to me.

rosehill